$100K BTC Target Within Reach!

A crypto trader predicts that Bitcoin can surpass its Mar. 12 all-time high by at least 20%.

Author

Danielle du Toit
May 22, 2024

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Here's what we've got for you today:

  • Analysts Forecast Bitcoin to Hit $100,000 Following Recent Surge

  • PEPE Reaches New High Amid ETH Price Jump on Renewed ETF Approval Hopes

  • VanEck’s Fund Listed on DTCC, Approval Anticipated

  • MAGA Meme Coin Controversy Sparks Debate Over Market Manipulation

Amidst Bitcoin's price hike, there has also been some speculation around the potential approval of spot Ethereum (ETH) ETFs.

  • A pseudonymous crypto trader believes the current market dynamics indicate a genuine market pump that is supported by both fundamental and technical analysis.

  • A sharp 21% drop to $58,000 on May 2, along with Bitcoin’s recovery and the formation of a spinning top candlestick on May 20 signal potential for upward movement.

  • The trader predicts that Bitcoin could now surpass its Mar. 12 all-time high of $73,679 by at least 20%, targeting a range of $90,000 to $100,000.

Pseudonymous crypto trader “Plazma” thinks PEPE’s upward trend will continue but expects brief volatile periods along the way.

  • Ethereum-based meme coin PEPE surged 27% to a new all-time high over the past 24 hours.

  • According to crypto trader Matthew Hyland, “PEPE is probably the best meme coin play for the ETH ETF.”

  • Ethereum's price increased by about 23% over the past two days, driven by optimism that the U.S. SEC may approve spot Ether ETFs by the May 23 deadline.

VanEck’s Ethereum ETF takes a step forward, but full launch awaits SEC approval.

  • VanEck's spot Ethereum ETF has been added to the Depository Trust and Clearing Corporation’s (DTCC) list of ETFs, marked under the ticker “ETHV.”

  • The listing is a preliminary step and does not signify the full launch of the fund, as the ETF still requires regulatory approval from the U.S. SEC.

  • The VanEck spot Ethereum ETF is still marked as “N” under the create/redeem column, indicating that it is not yet active.

Blockchain analytics platform Lookonchain recently reported alleged insider trading involving the meme coin MAGA.

  • According to Lookonchain, and insider sold about 80 billion MAGA tokens for 320 ETH worth $1.05 million.

  • New information suggests that the transactions were due to maximal extractable value (MEV) bot activity, not insider trading.

  • A crypto analyst challenged Lookonchain's allegations and criticized them for creating FUD even though it was evident the transactions were from MEV bots.

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